Birkenstocks are not works of art, court rules

But the company’s revenue chart paints a pretty picture, as sales rose again in Q1.

2/21/25 11:03AM

Some controversial “ugly” shoes are making strides in the comfort over style space. UGGs are back in fashion, with the TikTok-viral Tasman slippers routinely selling out, and just last week, Crocs switched back into sports mode, with its stock surging 24% after a sales bump.

But it’s Birkenstock, the centuries-old shoemaker known for its buckled sandals and Boston clogs, that’s now making headlines. On Thursday, Germany’s top court ruled that Birkenstock’s distinct orthopedic designs are not, despite the company’s best arguments, works of art.

The ruling culminates a long legal battle, with Birkenstock first attempting to gain copyright protections to prevent copycat brands from selling similar products back in May 2023. Still, the court said that the shoes exhibited “pure craftsmanship using formal design elements” — and a glowing quarterly earnings report, also released yesterday, suggests that a growing number of sandal enthusiasts agree.

Buckle up

Birkenstock’s revenue was up 19% year on year to €362 million ($379 million) in Q1 FY25, beating expectations off the back of a strong holiday period; however, the company’s shares dipped yesterday and are down a further 2% this morning, as investors remain cautious about the cost of the brand’s aggressive expansion plan into the Asian market squeezing annual margins.

Still, if the past decade is anything to go by, the Birkenstock boom will march forward. Indeed, in 2024, Birkenstock’s revenue grew 21%, boosted by its high-end 1774 category that featured collaborations with designers like Manolo Blahnik and Rick Owens, along with a hot pink cameo in “Barbie” (2023).

Tom Jones

hut’s off

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Yum! Brands might have found a potential buyer for Pizza Hut

Yum! is in exclusive talks with private equity firm LongRange Capital about a sale, per reports.

Hyunsoo Rim

hot dogs & half tanks

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Costco’s gas stations are breaking records as drivers seek cheaper fuel

Higher prices have pushed many members to the retailer’s pumps for the first time.

Max Knoblauch5/29/26

The Trump administration is reportedly planning a 50% made-in-America requirement for USMCA tariff relief

Qualifying for USMCA-related lower tariffs may soon require more US-made vehicle components, according to reporting by The Wall Street Journal.

The Trump administration is reportedly planning to introduce a 50% US content requirement for vehicles covered by the trade pact to receive lower tariffs. The content would be measured by cost, according to the WSJ.

There currently isn’t any US-specific requirement for those lower tariff rates, but in order to receive preferential tariffs, vehicles are must contain at least 75% regional content (components made in North America). Per Reuters reporting, the Trump admin is seeking to raise the regional requirement to 82%.

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Overall, Tesla will likely have the easiest time qualifying for any stricter requirements. The automaker’s vehicles contained the highest amount of US/Canadian content in 2025, according to American University research. Ford, GM, and Stellantis all scored lower.

Notably: the underlying government data that many domestic content measurements rely on intentionally combines US and Canadian components, so it’s difficult to know exactly how much of any given vehicle is specifically US-made.

Exclusive | Trump Administration Wants Autos Under USMCA to Be at Least 50% Made in America

These reported plans are subject to change as the US negotiates USMCA terms with Mexico over the next few months.

Tom Jones5/29/26

The $640,000 Luce makes the average Ferrari look like a bargain

Put aside the shape; put aside the smoothing out of Ferrari’s iconic sharp edges; put aside, even, the calls from former Chairman and President Luca Cordero di Montezemolo to “take the Prancing Horse off.” On the grounds of price alone, Luce detractors might have a point.

By now, many of us will have read the criticisms of Ferrari’s first fully electric vehicle, as the Luce — which was unveiled to the world earlier this week and promptly saw the company’s shares crash out in New York and Milan — gets subtly shaded by competitors online and not-so-subtly shaded by basically everyone else.

What makes all of this worse for Ferrari is that, even by the luxury car maker’s notoriously high standards, they’ve slapped a pretty hefty price tag on the Luce, and the company’s CEO, Benedetto Vigna, has already been forced to defend the €550,000 ($640,000) price point, saying yesterday that it’s “fair to pay for innovation,” per Reuters.

While Ferrari’s cars have been getting more expensive of late, as recently as 2022, Ferrari’s average revenue per car sold was around $340,000. At nearly twice that price, this new electric model is obviously proving a little much (visually, conceptually, and financially) for many loyal and long-standing fans of the Prancing Horse to stomach.